Financial Crisis

[midas]

[

I am a confirmed Marxist

So if you are a Marxist, do you support the policies of the “ progressive “ movement now occupying the White House ?

( Sorry for breaking Forum Netiquette rules from TV....rule # 2 but in your Post #5483 you gave the impression you didn’t mind about this ? )

[midas]

But the good old days brings to mind a quote of Franklin Adams a journalist a couple of hundred years ago "Nothing is more responsible for the good old days than a bad memory."

Its not about that…

This person says has written about it in a far more eloquent manner than I ever could .

He is JS Kim, Managing Director and Chief Investment Strategist for SmartKnowledge

The Death of Capitalism

http://www.zerohedge.com/article/death-capitalis

[Abrak]

I am a confirmed Marxist

So if you are a Marxist, do you support the policies of the “ progressive “ movement now occupying the White House ?

Well I am more into Marx's philosophy than his economics - I believe you are the resident Marxist eco guy - with your surplus value and commodisation of labor theories. I am also a 'fatalist' rather than an 'activist'.

I dont believe in the good old days or that capitalism ever had 'values' - its success is simply a product of our raw, base instincts. And although inherently self-destructive, we will probably blow ourselves into tiny pieces before the second coming, the revolution and probably before Lindsey Lohan becomes President.

Attributing 'values' to capitalism is a triumph of hope over experience - to quote Keynes 'Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.'

Adam Smith set out the basic capitalist philosophy that the 'invisible hand' of the market is everyone (each individual) persuing their own self interests and producing the greatest benefit for society as a whole. This is a religion not a theory.

It is obviously rubbish for 3 reasons (1) it assumes each individual 'wants' are independent of anyone else (they clearly arent) (2) that there is some vaguely equitable distribution of wealth (if you start with 1 guy owning virtually everything and 5 billion with nothing it isnt going to work - and basically if you start with everyone owning the same amount, you will eventually end up with one person owning everything) and (3) the problem of aggregation (in that it doesnt work - a bit like Darwinian evolution persuing our selfish needs only ends in a 'result' 'evolution' not 'progress' (peacocks understand this.))

[midas]

I am a confirmed Marxist

So if you are a Marxist, do you support the policies of the “ progressive “ movement now occupying the White House ?

Well I am more into Marx's philosophy than his economics - I believe you are the resident Marxist eco guy - with your surplus value and commodisation of labor theories. I am also a 'fatalist' rather than an 'activist'.

I dont believe in the good old days or that capitalism ever had 'values' - its success is simply a product of our raw, base instincts. And although inherently self-destructive, we will probably blow ourselves into tiny pieces before the second coming, the revolution and probably before Lindsey Lohan becomes President.

Attributing 'values' to capitalism is a triumph of hope over experience - to quote Keynes 'Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.'

Adam Smith set out the basic capitalist philosophy that the 'invisible hand' of the market is everyone (each individual) persuing their own self interests and producing the greatest benefit for society as a whole. This is a religion not a theory.

It is obviously rubbish for 3 reasons (1) it assumes each individual 'wants' are independent of anyone else (they clearly arent) (2) that there is some vaguely equitable distribution of wealth (if you start with 1 guy owning virtually everything and 5 billion with nothing it isnt going to work - and basically if you start with everyone owning the same amount, you will eventually end up with one person owning everything) and (3) the problem of aggregation (in that it doesnt work - a bit like Darwinian evolution persuing our selfish needs only ends in a 'result' 'evolution' not 'progress' (peacocks understand this.))

But the capitalist system used to work within the legal framework

And you said in your earlier post “When it comes to children we simply send them to the best schools 'so they have 'more' than a fair chance to compete.” But even the best schools haven’t escaped the rot ( i.e. cheating mentality ) permeating through society.

“Fifty-eight percent of the teachers interviewed in the Association of Teachers and Lecturers (ATL) questionnaire had come across plagiarism among their sixth-form pupils” - so please tell me how these children will ever understand what it really means to " compete " ?

Edited January 26, 2010 by midas

[midas]

And the list grows longer ………………..

Bahrain, UAE added to 'at risk' debt list for 2010

http://www.arabianbusiness.com/578085-bahr...t-list-for-2010

[LaoPo]

And the list grows longer ………………..

Bahrain, UAE added to 'at risk' debt list for 2010

http://www.arabianbusiness.com/578085-bahr...t-list-for-2010

I agree...and the markets are scared:

China tightening worries spook investors, hit markets

http://www.reuters.com/article/idUSTRE60P1...usbeforethebell

If the list goes any longer we could see some surprises in countries nobody expected to be on the red list also; it adds up and will create a domino effect.

In China's case it's especially tricky since they have no other option than to pull the cord much tighter around the bankers' necks and stop the lending to normal proportions.

LaoPo

[Abrak]

One of the better investments you could have made last year was buying UK property futures (I didnt). The 5 year forward rate of the average house price on the Halifax Property Index rose 58% between February and December from about GBP119k to GBP187k.

On the other hand the actual price rose just 5% from GBP159k to GBP167k and the currency lost at least 10% against the US$ dollar.

[LaoPo]

And, in the meantime in Davos, Switzerland, Nouriel Roubini says:

Roubini Supports Reappointment of Bernanke, Praises Volcker

“He made lots of mistakes before, during the crisis. But all in all, the final response of the Fed was the right one.”

More:

http://www.businessweek.com/news/2010-01-2...es-volcker.html

Naam: what the heck are you doing in LOS...you could have enjoyed a bit of crispy snow, fresh cold air, nice walks with the Lady and talk to some interesting people and refresh your contacts

Luftbild von Davos

LaoPo

[Naam]

Naam: what the heck are you doing in LOS...you could have enjoyed a bit of crispy snow, fresh cold air, nice walks with the Lady and... talk to some interesting people and refresh your contacts

LaoPo

...freezing my balls off? no thank you!

[LaoPo]

Naam: what the heck are you doing in LOS...you could have enjoyed a bit of crispy snow, fresh cold air, nice walks with the Lady and... talk to some interesting people and refresh your contacts

LaoPo

...freezing my balls off? no thank you!

Come on..long warm underwear isn't that expensive anymore

http://warmstuff.com/index.php?cPath=52

LaoPo

[LaoPo]

And the list grows longer ………………..

Bahrain, UAE added to 'at risk' debt list for 2010

http://www.arabianbusiness.com/578085-bahr...t-list-for-2010

Even Japan could be on the list shortly.....

Japan Credit Rating Faces S&P Pressure

http://247wallst.com/2010/01/26/japan-cred...es-sp-pressure/

LaoPo

[midas]

And, in the meantime in Davos, Switzerland, Nouriel Roubini says:

Roubini Supports Reappointment of Bernanke, Praises Volcker

“He made lots of mistakes before, during the crisis. But all in all, the final response of the Fed was the right one.”

More:

http://www.businessweek.com/news/2010-01-2...es-volcker.html

This matter is getting interesting ! Od course it could be just last minute

political muckraking ............on the other hand it could be

the Fed has finally produced a whistleblower and raises questions about whether bailing out

AIG was actually necessary, and what Bernanke's motives were.

See the video and see yesterdays letter from

Darrell Issa to Congress :-

http://www.zerohedge.com/article/what-does...or-bunning-know

[flying]

the Fed has finally produced a whistleblower and raises questions about whether bailing out

AIG was actually necessary, and what Bernanke's motives were.

Like I said .....

http://www.thaivisa.com/forum/Financial-Cr...75#entry3288075

I still think Tiny Tim will be the sacrificial lamb

Also even if BS Bernanke does not get confirmed where is he going? He will still have his hand well in it .

A much bigger shaking of the tree would be nice ....if not cutting it down all together would be nice too

Edited January 27, 2010 by flying

[Naam]

And the list grows longer ………………..

Bahrain, UAE added to 'at risk' debt list for 2010

http://www.arabianbusiness.com/578085-bahr...t-list-for-2010

Even Japan could be on the list shortly.....

Japan Credit Rating Faces S&P Pressure

http://247wallst.com/2010/01/26/japan-cred...es-sp-pressure/

LaoPo

not to forget the United Republic of Head Hunters of North-East Papua New Guinea where a shortage of shrink heads has caused a bubble. informed circles claim that the retired head hunting policy making elders are considering to employ shrinks from the Greatest Nation on Earth and issue them green cards to solve the problem

[LaoPo]

And the list grows longer ………………..

Bahrain, UAE added to 'at risk' debt list for 2010

http://www.arabianbusiness.com/578085-bahr...t-list-for-2010

Even Japan could be on the list shortly.....

Japan Credit Rating Faces S&P Pressure

http://247wallst.com/2010/01/26/japan-cred...es-sp-pressure/

LaoPo

not to forget the United Republic of Head Hunters of North-East Papua New Guinea where a shortage of shrink heads has caused a bubble. informed circles claim that the retired head hunting policy making elders are considering to employ shrinks from the Greatest Nation on Earth and issue them green cards to solve the problem

You might joke about it Naam but it wouldn't surprise me if the list will grow substantially in the very near future (months) to come. The situation in many (Eastern and Mediterranean as well as Ireland and Iceland and Baltic States) European countries is devastating and countries could easily go bankrupt and cause a domino reaction.

Ukrain for instance could go under easily and cause tremendous trouble for many European and American Banks; a scenario not a single Bank (and Government) is waiting for right now.

There's a boiling unrest amongst people since they feel cheated by their governments who're doing nothing for them other than to save their own @rses and local Banks, who, in turn, are sitting on their money instead of helping small and middle sized businesses to stimulate the economy; money they received from the governments but which money was paid for by the same citizens.

and for Japan:

"Standard & Poor’s yesterday cut its outlook for Japan’s AA rating to “negative” from “stable” on concern Hatoyama lacks a plan to rein in the world’s largest debt burden. "

http://www.bloomberg.com/apps/news?pid=206...id=aAMRTb7SAksc

I'm not so positive as you seems to be.

LaoPo

[midas]

And the list grows longer ………………..

Bahrain, UAE added to 'at risk' debt list for 2010

http://www.arabianbusiness.com/578085-bahr...t-list-for-2010

Even Japan could be on the list shortly.....

Japan Credit Rating Faces S&P Pressure

http://247wallst.com/2010/01/26/japan-cred...es-sp-pressure/

LaoPo

not to forget the United Republic of Head Hunters of North-East Papua New Guinea where a shortage of shrink heads has caused a bubble. informed circles claim that the retired head hunting policy making elders are considering to employ shrinks from the Greatest Nation on Earth and issue them green cards to solve the problem

You might joke about it Naam but it wouldn't surprise me if the list will grow substantially in the very near future (months) to come. The situation in many (Eastern and Mediterranean as well as Ireland and Iceland and Baltic States) European countries is devastating and countries could easily go bankrupt and cause a domino reaction.

Ukrain for instance could go under easily and cause tremendous trouble for many European and American Banks; a scenario not a single Bank (and Government) is waiting for right now.

There's a boiling unrest amongst people since they feel cheated by their governments who're doing nothing for them other than to save their own @rses and local Banks, who, in turn, are sitting on their money instead of helping small and middle sized businesses to stimulate the economy; money they received from the governments but which money was paid for by the same citizens.

and for Japan:

"Standard & Poor’s yesterday cut its outlook for Japan’s AA rating to “negative” from “stable” on concern Hatoyama lacks a plan to rein in the world’s largest debt burden. "

http://www.bloomberg.com/apps/news?pid=206...id=aAMRTb7SAksc

I'm not so positive as you seems to be.

LaoPo

Agreed LaoPo. In fact sometimes it feels like there is a prefect storm brewing because

there so many signs of deterioration at the same time.... some of the

individual States in USA will start to real pain soon.

I would really like to have Naam's ability to laugh it all off but its like a toothache that wont go away

[Naam]

and for Japan:

"Standard & Poor’s yesterday cut its outlook for Japan’s AA rating to “negative” from “stable” on concern Hatoyama lacks a plan to rein in the world’s largest debt burden. "

http://www.bloomberg.com/apps/news?pid=206...id=aAMRTb7SAksc

I'm not so positive as you seems to be.

LaoPo

in my view the anals of "Poor Standards" are clowns because they don't mention in that context that Japan is a NET creditor as far as external debt is concerned. but comparing apples (internal JP¥ debt) with strawberries (external debt) generates of course more interesting headlines.

[LaoPo]

World's uneven economic recovery tops Davos debate

By BRADLEY S. KLAPPER

The Associated Press

Wednesday, January 27, 2010; 4:27 AM

DAVOS, Switzerland -- The risks of an uneven global economic recovery - powered by a booming China and held back by unemployment in the U.S. and other wealthy nations - dominated the agenda Wednesday as the World Economic Forum opened in the Swiss Alps.

The five-day gathering of movers and shakers was assessing a host of issues facing the planet, from disaster aid in the aftermath of Haiti's devastating earthquake to reforms aimed at preventing another financial markets collapse.

But the most pressing concern was steadying a shaky world economy that is likely to face tough challenges in 2010 as rich world unemployment remains high and governments are forced to pull back from lavish bailouts and stimulus packages that have propped up banks and other industries.

"China alone can not be the only engine of global economic growth," warned economist Nouriel Roubini, who gained prominence as a soothsayer of the current economic crisis. "In the first half, you are going to see the effects of the fiscal stimulus ... in the second half of the year you will see a fall in the U.S., Europe and Japan."

Some 2,500 participants - from presidents and CEOs to philosophers and artists - will debate economic recovery, job creation and the way forward in this picturesque Swiss resort, celebrating its 40th birthday as host of the world's pre-eminent forum for economic and political brainstorming.

French President Nicolas Sarkozy will formally open the event later Wednesday, with other headliners including Presidents Luiz Inacio Lula da Silva of Brazil and Jacob Zuma of South Africa. Former U.S. President Bill Clinton will encourage big business to support Haiti's reconstruction, while "Avatar" director James Cameron and classical pianist Lang Lang are the event's top cultural representatives.

While in the past Davos has often been a key site for diplomacy, the focus of this year's meeting was clearly the economy.

Dennis Nally, global chairman of PriceWaterhouseCoopers, said he was "cautiously optimistic" about growth this year. But, he warned that a number of problems remained, not least the stubbornly high unemployment in the United States and other industrialized economies.

"It's not a robust recovery from a job creation standpoint," he said.

Roubini, once dubbed "Dr. Doom" for his grim economic assessments, saw some scope for optimism despite crunched credit markets and constrained banks, speaking just hours ahead of President Barack Obama's first State of the Union address.

"Obama's proposals on banking regulation are finally going in the right direction ... but they are not enough," he said. "We should separate commercial banking from investment banking."

David Rubenstein, the Carlyle Group managing director, said the U.S. Congress was facing major challenges in reining in its massive spending and trimming its record $14 trillion deficit.

But for emerging economies, the mood was mostly positive. While there was concerned about an over-reliance on these new engines of growth, Nally suggested that China and India no longer be included among their ranks.

"It's a little bit unfair to call China an emerging market, India an emerging market and they're in the same category as Chad or Mozambique," Nally said. "In 2014, the GDP of the emerging markets will surpass the GDP of the developed markets. Some of these countries have emerged already. We should come up with a better term."

Some participants found the current economic uncertainty oddly reassuring.

"You see that everyone else is as worried as you are, that they have the same doubts," said Angel Gurria, who heads the Organization for Economic Cooperation and Development.

http://www.washingtonpost.com/wp-dyn/conte...0012700555.html

LaoPo

[pkrv]

and for Japan:

"Standard & Poor's yesterday cut its outlook for Japan's AA rating to "negative" from "stable" on concern Hatoyama lacks a plan to rein in the world's largest debt burden. "

http://www.bloomberg.com/apps/news?pid=206...id=aAMRTb7SAksc

I'm not so positive as you seems to be.

LaoPo

in my view the anals of "Poor Standards" are clowns because they don't mention in that context that Japan is a NET creditor as far as external debt is concerned. but comparing apples (internal JP¥ debt) with strawberries (external debt) generates of course more interesting headlines.

I too noticed that - Let us hope they never every pay off their national debt because it will be in USD. That would be a very, very, interesting Tsunami.

[Naam]

I would really like to have Naam's ability to laugh it all off but its like a toothache that wont go away

the ability to "laugh it all off" is based on the fact to mind and concentrate on one's personal business Midas. but instead of laughing something off i use opportunities to strengthen my financial basis. only i few weeks ago i thought it's all over making easy money based on the "crisis". but i was wrong. some of my postings made even learned TV-members, who possess (unlike boorish me ) a wealth of theoretical detail knowledge in macroeconomics sit up, think twice and... act.

the more the doom&gloom prophets spread their gospel the more opportunities appear for those who do their homework meticulously, act with caution as well as within their means without getting high and mighty and going overboard. i experienced the latter years ago and it taught me a lesson that i will never forget.

[Naam]

I too noticed that - Let us hope they never every pay off their national debt because it will be in USD. That would be a very, very, interesting Tsunami.

with all due respect Pkrv. tell us what you smoke or snuff what national debt of Japan is denominated in USD? or do you think perhaps that internal JP¥ debt can be paid off by using central bank USD reserves moving cash from the left into the right pocket?

[Naam]

"China alone can not be the only engine of global economic growth," warned economist Nouriel Roubini, who gained prominence as a soothsayer of the current economic crisis. "In the first half, you are going to see the effects of the fiscal stimulus ... in the second half of the year you will see a fall in the U.S., Europe and Japan."

Nouriel is right and i am looking forward that his forecast comes true.

[pkrv]

I too noticed that - Let us hope they never every pay off their national debt because it will be in USD. That would be a very, very, interesting Tsunami.

with all due respect Pkrv. tell us what you smoke or snuff what national debt of Japan is denominated in USD? or do you think perhaps that internal JP¥ debt can be paid off by using central bank USD reserves moving cash from the left into the right pocket?

They simply have tons of the stuff - what else are they going to do with it?

[Naam]

I too noticed that - Let us hope they never every pay off their national debt because it will be in USD. That would be a very, very, interesting Tsunami.

with all due respect Pkrv. tell us what you smoke or snuff what national debt of Japan is denominated in USD? or do you think perhaps that internal JP¥ debt can be paid off by using central bank USD reserves moving cash from the left into the right pocket?

They simply have tons of the stuff - what else are they going to do with it?

they keep it for a rainy day because they can't use it for the purpose you have in mind. it is of course possible to use (up to a certain extent) reserves to service external sovereign debt when there is a pressing need. but Japan, China, Taiwan and a few others are riding the UST/USD tiger and can't get off its back because the havoc caused by dumping it would hurt them more than benefitting them.

[Naam]

And the list grows longer ………………..

Bahrain, UAE added to 'at risk' debt list for 2010

total debt of Bahrain and the Emirates miniscule teenie weenie peanuts compared to the actual and realised losses a handful of international banks managed to incur recently.

[pkrv]

I too noticed that - Let us hope they never every pay off their national debt because it will be in USD. That would be a very, very, interesting Tsunami.

with all due respect Pkrv. tell us what you smoke or snuff what national debt of Japan is denominated in USD? or do you think perhaps that internal JP¥ debt can be paid off by using central bank USD reserves moving cash from the left into the right pocket?

They simply have tons of the stuff - what else are they going to do with it?

they keep it for a rainy day because they can't use it for the purpose you have in mind. it is of course possible to use (up to a certain extent) reserves to service external sovereign debt when there is a pressing need. but Japan, China, Taiwan and a few others are riding the UST/USD tiger and can't get off its back because the havoc caused by dumping it would hurt them more than benefitting them.

Hi Naam - In otherwords all the ingredients for a seachange. And whilst it may offend the British Empire to understand that another nation may have the concept of national pride and self, I doubt that the US will have any concept of this at all. IMO they may have to grow up a bit in the near future.

You may find this amusing

http://en.wikipedia.org/wiki/How_to_be_an_Alien

Please don't laugh at the British too loudly if you choose to read the book - and above all do not click your heals! It is a really, really funny read - Promise!

IMO all things change.

edit BTW what did you mean by UST/USD?

Edited January 27, 2010 by pkrv

[midas]

I would really like to have Naam's ability to laugh it all off but its like a toothache that wont go away

the ability to "laugh it all off" is based on the fact to mind and concentrate on one's personal business Midas. but instead of laughing something off i use opportunities to strengthen my financial basis. only i few weeks ago i thought it's all over making easy money based on the "crisis". but i was wrong. some of my postings made even learned TV-members, who possess (unlike boorish me ) a wealth of theoretical detail knowledge in macroeconomics sit up, think twice and... act.

the more the doom&gloom prophets spread their gospel the more opportunities appear for those who do their homework meticulously, act with caution as well as within their means without getting high and mighty and going overboard. i experienced the latter years ago and it taught me a lesson that i will never forget.

We differ in our views so much Naam.

Let me tell you a story.

I made an absolute fortune during the mid 1980’s by simply “ importing “

an idea from one country to another and then acting on it. For the first 5

years everyone said it couldn’t be done so I had a total monopoly and

that is when I made my killing. I had very many critics and detractors

but I totally ignored them all because my gut feeling was that I would

be correct - which was very hard at the beginning . But the funniest

thing of all about the whole situation was that when I eventually sold

my business 15 years later, many of those who were my fiercest

critics especially during the first 5 years ended up as full blown

competitors in the same business That taught me so much about

human nature and in particular not everyone can see things that

might seem obvious to others.

I now have more than enough assets and even though starting that enterprise

involved taking a huge gamble at that time, I did so only in a business sense.

In other words I still would never think of walking into a casino today or betting on horses

( aka stockmarket ) . Today I don’t want or have a need to do business

now for many reasons :-

1. I have more than enough assets

2. The financial system and even undertaking business today " feels "

thoroughly rotten and crooked and sleazy. In the 1980’s and 90's it was an absolute pleasure,

but today it is unrecognisable to me. Maybe it has been easier for me

see this gradual deterioration because of the fact I stepped back.

3. The compulsion of making even more money when a person already has

enough seems frivolous. This is what I believe will be our

ultimate downfall of our society. The greed and the dishonesty that people

are involved with in today is totally repulsive to me.

4. The difference in standards between “ the haves “ and the

" have nots “ is totally unsustainable and I recognise even though I am in “ the haves “

category, very much unlike you I don’t feel untouchable and in fact

I am very much aware it could all be taken away from me at the blink

of an eye. In fact I half expect it because of the fallout of this crisis.

When you say all this doesn’t affect you I never believe you are that naïve to honestly think that.

5. I have a fatalist attitude that things will go so wrong eventually to the

extent that money will be irrelevant.

6. When I see images of the aftermath of Katrina and now Haiti, that is

where I believe we are heading…….total anarchy. Partly perhaps because

of the total breakdown of moral decency which is the real crisis. I don’t know why,

when or how but I feel it with the same conviction I had in the 1980’s

when I first started my business and everyone was telling me I was wrong.

[Chaimai]

We differ in our views so much Naam.

Let me tell you a story.

I long ago became bored with this thread which, in my opinion, is now only trying to drag blood out of a stone.

However, I do want to comment on midas' last post.

It is probably the most heart-felt post in this topic (perhaps apart from 12D's initial (justified) vitriol towards the UK financial system).

I have no doubt about the 100% sincerity of the post (I will differ on a couple of points) and my only regret is that I do not see happiness and fulfilment that should follow the undoubted success that midas has achieved.

I see instead, too much fear, bitterness and unhappiness. There are things that happen in this world that no amount of success can change - 9/11, Katrina, Haiti etc, etc.

Without having a bunker mentality Naam has the ability to divorce himself from that which he can control/influence and that which he cannot - I most sincerely wish midas all the best in in acquiring a small amount of this skill so he does not have to carry all the world's burdens on his shoulders.

[pkrv]

We differ in our views so much Naam.

Let me tell you a story.

I long ago became bored with this thread which, in my opinion, is now only trying to drag blood out of a stone.

However, I do want to comment on midas' last post.

It is probably the most heart-felt post in this topic (perhaps apart from 12D's initial (justified) vitriol towards the UK financial system).

I have no doubt about the 100% sincerity of the post (I will differ on a couple of points) and my only regret is that I do not see happiness and fulfilment that should follow the undoubted success that midas has achieved.

I see instead, too much fear, bitterness and unhappiness. There are things that happen in this world that no amount of success can change - 9/11, Katrina, Haiti etc, etc.

Without having a bunker mentality Naam has the ability to divorce himself from that which he can control/influence and that which he cannot - I most sincerely wish midas all the best in in acquiring a small amount of this skill so he does not have to carry all the world's burdens on his shoulders.

Hi 'Chaimai' this is going to be tough - It took a little while to estabish midas is AUZ single and renting a house in Thailand - He has come on leaps and bounds. I wonder what he will make of that?

[LaoPo]

South Korea's Debt Threatens Recovery

High levels of corporate and household debt remain an obstacle.

South Korea has a high level of corporate debt in comparison to both its regional partners and economies of similar size. In September 2009, South Korean corporate issuers of international debt securities had $34.4 billion outstanding. The ratio of corporate debt to GDP is significantly higher than that of other states in the region. It increased from 83.1% in 2005 to 112.8% at the end of 2008.

More: http://www.forbes.com/2010/01/26/south-kor...aily_newsletter

LaoPo